Hello Group (NASDAQ:MOMO) Given New $7.00 Price Target at Citigroup

Hello Group (NASDAQ:MOMO) had its target price increased by analysts at Citigroup from $5.90 to $7.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the information services provider’s stock. Citigroup’s price objective would suggest a potential downside of 7.89% from the company’s current price.

Several other research firms have also issued reports on MOMO. StockNews.com upgraded shares of Hello Group from a “sell” rating to a “hold” rating in a report on Wednesday, November 27th. Jefferies Financial Group raised their price target on shares of Hello Group from $6.50 to $7.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Benchmark reduced their price target on shares of Hello Group from $15.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Finally, Bank of America downgraded shares of Hello Group from a “buy” rating to an “underperform” rating in a research report on Wednesday, November 6th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $8.25.

Hello Group Stock Up 2.8 %

Shares of MOMO stock traded up $0.21 during trading hours on Tuesday, hitting $7.60. 1,096,972 shares of the company’s stock traded hands, compared to its average volume of 1,661,533. The stock’s fifty day simple moving average is $6.97 and its two-hundred day simple moving average is $6.58. Hello Group has a 12-month low of $4.79 and a 12-month high of $8.19. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of 7.60, a PEG ratio of 2.07 and a beta of 0.51. The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 0.17.

Institutional Investors Weigh In On Hello Group

A number of hedge funds have recently modified their holdings of MOMO. Cetera Advisors LLC bought a new stake in shares of Hello Group during the 1st quarter valued at $355,000. Polunin Capital Partners Ltd bought a new stake in shares of Hello Group during the 2nd quarter valued at $4,566,000. Patriot Financial Group Insurance Agency LLC lifted its stake in shares of Hello Group by 19.4% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 67,812 shares of the information services provider’s stock valued at $415,000 after buying an additional 11,013 shares in the last quarter. Headlands Technologies LLC lifted its stake in shares of Hello Group by 856.7% during the 2nd quarter. Headlands Technologies LLC now owns 45,049 shares of the information services provider’s stock valued at $276,000 after buying an additional 40,340 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of Hello Group by 22.6% during the 2nd quarter. American Century Companies Inc. now owns 721,760 shares of the information services provider’s stock valued at $4,417,000 after buying an additional 133,113 shares in the last quarter. Institutional investors own 50.96% of the company’s stock.

About Hello Group

Hello Group Inc provides mobile-based social and entertainment services in the People's Republic of China. It operates in three segments: Momo, Tantan, and QOOL. The company offers Momo, a mobile application that connects people and facilitates social interactions based on location, interests, and various online recreational activities, including live talent shows, short videos, social games, as well as other video- and audio-based interactive experiences, such as online parties, mobile karaoke and user participated reality shows; Tantan, a social and dating application; and other applications under the Hertz, Soulchill, Duidui, and Tietie names.